California Public Employees Retirement System increased its stake in shares of Kirkland’s Inc. (NASDAQ:KIRK) by 20.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,400 shares of the company’s stock after buying an additional 27,400 shares during the period. California Public Employees Retirement System owned approximately 1.00% of Kirkland’s worth $2,325,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. First Quadrant L P CA bought a new stake in shares of Kirkland’s during the second quarter valued at about $107,000. Acrospire Investment Management LLC purchased a new position in Kirkland’s during the first quarter worth $131,000. Mesirow Financial Investment Management US Value Equity purchased a new position in Kirkland’s during the first quarter worth $238,000. Adams Diversified Equity Fund Inc. purchased a new position in Kirkland’s during the second quarter worth $267,000. Finally, A.R.T. Advisors LLC boosted its position in Kirkland’s by 0.6% in the first quarter. A.R.T. Advisors LLC now owns 31,101 shares of the company’s stock worth $544,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 84.20% of the company’s stock.
Shares of Kirkland’s Inc. (NASDAQ:KIRK) traded up 1.56% during trading on Monday, hitting $12.37. 41,632 shares of the stock traded hands. The firm has a 50 day moving average price of $12.97 and a 200-day moving average price of $14.71. Kirkland’s Inc. has a one year low of $11.18 and a one year high of $24.36. The company has a market cap of $196.56 million, a PE ratio of 15.05 and a beta of 1.76.
Kirkland’s (NASDAQ:KIRK) last issued its earnings results on Tuesday, August 23rd. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.01. The company had revenue of $123 million for the quarter, compared to analyst estimates of $125.54 million. Kirkland’s had a net margin of 2.35% and a return on equity of 11.08%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned ($0.11) EPS. Analysts anticipate that Kirkland’s Inc. will post $0.73 earnings per share for the current fiscal year.
A number of research firms have weighed in on KIRK. Zacks Investment Research cut shares of Kirkland’s from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. SunTrust Banks Inc. decreased their price objective on shares of Kirkland’s from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, August 24th. B. Riley reissued a “buy” rating and issued a $15.00 price objective on shares of Kirkland’s in a research report on Monday, August 29th. Finally, Sidoti cut shares of Kirkland’s from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $21.00 to $13.00 in a research report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Kirkland’s presently has an average rating of “Buy” and an average target price of $20.14.
In other news, Director Carl Kirkland sold 4,800 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $12.51, for a total transaction of $60,048.00. Following the transaction, the director now owns 816,773 shares in the company, valued at approximately $10,217,830.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.
Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.
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